Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch&#39;s Twenty-First Century Fox Inc for $52.4 billion in stock, giving the world&#39;s largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc.

The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world&#39;s most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport.

Early indications are that the deal will not face strong resistance from antitrust regulators as AT&amp;T Corp&#39;s bid to acquire Time Warner Inc has done. US&nbsp;President Donald Trump, who has attacked the AT&amp;T deal, spoke to Murdoch on Thursday and congratulated him on the deal, according to the White House.

Shares of Fox, which have surged more than 30 per cent since talk of the deal surfaced in early November, closed up 6.5 per cent. Disney shares rose 2.7 per cent, spurred on by the company&#39;s plan to buy up to $20 billion of its own shares to offset dilution from the all-stock deal. Disney will also assume about $13.7 billion of Fox debt in the deal.

Fox stockholders will receive 0.2745 Disney shares for each share held and will end up owning about a quarter of Disney.

Under the deal, expected to close in 12 to 18 months, Disney acquires 21st Century Fox&#39;s film and television studios, its cable entertainment networks and international TV businesses.

That brings marquee franchises like &quot;Avatar&quot; and &quot;The Simpsons&quot; inside the Mouse House, on top of Iger&#39;s previous purchases, including Pixar Animation Studios, Marvel Entertainment and &quot;Star Wars&quot; producer Lucasfilm.

The deal also includes 22 of Fox&#39;s regional sports networks that have the rights to televise live games of US&nbsp;professional baseball, basketball and hockey teams as well as popular college and high school games.

Disney&rsquo;s global footprint expands with the acquisition of Fox&#39;s international satellite assets, including Star TV network in India and a stake in European pay-TV provider Sky Plc and sports rights in several countries.

The new pipeline of shows and movies will help Disney battle technology companies siphoning audiences away from traditional TV networks.

Amazon is on track to spend at least $4.5 billion on video this year, according to analyst estimates, while Netflix plans to spend $8 billion on content next year. That is closing the gap on Disney, which spent $13.5 billion on content, half of that on sports, in the latest fiscal year, according to analysts.

&quot;The deal illustrates the huge strategic challenge traditional media companies face and how they need to reinvent their business models to compete with digital, online competitors such as Netflix, Google and Amazon,&quot; said Nick Jones, partner and head of technology at Cavendish Corporate Finance. &quot;(It) helps Disney dramatically reduce its reliance on traditional television, a business that has declined over the last two decades.&quot;

New Fox

Immediately before the acquisition, Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, its sports channels FS1, FS2 and the Big Ten Network, into a newly listed company that it will spin off to its shareholders.

&quot;This will be a growth company, centred on live news and sports brands and the strength of the Fox network,&quot; 21st Century Fox Executive Chairman Murdoch told investors. He said Fox was not retreating, rather &quot;pivoting at a pivotal moment.&quot;

Disney Chief Executive Bob Iger, 66, will extend his tenure through the end of 2021 to oversee the integration of the Fox businesses. He has already postponed his retirement from Disney three times, saying in March he was committed to leaving the company in July 2019.

If Iger sees out his new term, that would rule out a presidential bid in 2020, which had been the subject of some speculation.

&quot;This acquisition reflects a changing media landscape, increasingly defined by transforming technology and evolving consumer expectations,&quot; Iger told investors on a conference call.

He said new technology would be necessary to meet the demands of viewers who want to access content anytime. Fox&#39;s regional sports networks and cable network puts Disney in a better position to sell more shows directly to more consumers, he added.

Disney has been struggling to bolster its TV business as cancellation of cable subscriptions is pressuring its biggest network, sports channel ESPN.

The company plans to launch its own streaming service in 2019, a calculated gamble that it can generate more profit in the long run from its own subscription service rather than renting out movies to services like Netflix.

It is not clear who will head the new Fox. Iger said current Fox CEO James Murdoch, Rupert&#39;s younger son, will help with the transition and that the two will discuss whether he will have a longer-term role at Disney.

Sky&#39;s future

Through Fox&#39;s stake in the Hulu video streaming service, Disney will assume majority control of one of Netflix&#39;s main competitors. Hulu is also partially owned by Comcast Corp and Time Warner Inc.

A majority of antitrust experts contacted by Reuters said the deal would likely win approval from US&nbsp;antitrust authorities, although the US&nbsp;Department of Justice may require asset sales or conditions, they said.

Fox said it remained committed to buying the 61 percent of Sky it does not already own and expects to win regulatory approval from Britain and to close the deal by the end of June, 2018.

Britain&rsquo;s Takeover Panel said Disney had informed the watchdog that should it only buy 39 percent of the company - if Murdoch fails to buy the rest of Sky - it did not think it should be forced to make a full bid for the company. The statement prompted Sky&rsquo;s stock to fall by 1 percent.

In Britain, any investor acquiring 30 percent of a listed company is automatically forced to make a bid for the rest of the stock. The Takeover Panel said it would seek the opinions of Sky&rsquo;s independent directors before making a decision.

Fox stockholders will receive 0.2745 Disney shares for each share held and will end up owning about a quarter of Disney

Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch's Twenty-First Century Fox Inc for $52.4 billion in stock, giving the world's largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc. The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport. Early indications are that the deal will not face strong resistance from antitrust regulators as AT&T Corp's bid to acquire Time Warner Inc has done. US President Donald Trump, who has attacked the AT&T deal, spoke to Murdoch on Thursday and congratulated him on the deal, according to the White House. Shares of Fox, which have surged more than 30 per cent since talk of the deal surfaced in early November, closed up 6.5 per cent. Disney shares rose 2.7 per cent, spurred on by the company's plan to buy up to $20 billion of its own shares to offset dilution from the all-stock deal. Disney will also assume about $13.7 billion of Fox debt in the deal. Fox stockholders will receive 0.2745 Disney shares for each share held and will end up owning about a quarter of Disney. Under the deal, expected to close in 12 to 18 months, Disney acquires 21st Century Fox's film and television studios, its cable entertainment networks and international TV businesses. That brings marquee franchises like "Avatar" and "The Simpsons" inside the Mouse House, on top of Iger's previous purchases, including Pixar Animation Studios, Marvel Entertainment and "Star Wars" producer Lucasfilm. The deal also includes 22 of Fox's regional sports networks that have the rights to televise live games of US professional baseball, basketball and hockey teams as well as popular college and high school games. Disney’s global footprint expands with the acquisition of Fox's international satellite assets, including Star TV network in India and a stake in European pay-TV provider Sky Plc and sports rights in several countries. The new pipeline of shows and movies will help Disney battle technology companies siphoning audiences away from traditional TV networks. Amazon is on track to spend at least $4.5 billion on video this year, according to analyst estimates, while Netflix plans to spend $8 billion on content next year. That is closing the gap on Disney, which spent $13.5 billion on content, half of that on sports, in the latest fiscal year, according to analysts. "The deal illustrates the huge strategic challenge traditional media companies face and how they need to reinvent their business models to compete with digital, online competitors such as Netflix, Google and Amazon," said Nick Jones, partner and head of technology at Cavendish Corporate Finance. "(It) helps Disney dramatically reduce its reliance on traditional television, a business that has declined over the last two decades." New Fox Immediately before the acquisition, Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, its sports channels FS1, FS2 and the Big Ten Network, into a newly listed company that it will spin off to its shareholders. "This will be a growth company, centred on live news and sports brands and the strength of the Fox network," 21st Century Fox Executive Chairman Murdoch told investors. He said Fox was not retreating, rather "pivoting at a pivotal moment." Disney Chief Executive Bob Iger, 66, will extend his tenure through the end of 2021 to oversee the integration of the Fox businesses. He has already postponed his retirement from Disney three times, saying in March he was committed to leaving the company in July 2019. If Iger sees out his new term, that would rule out a presidential bid in 2020, which had been the subject of some speculation. "This acquisition reflects a changing media landscape, increasingly defined by transforming technology and evolving consumer expectations," Iger told investors on a conference call. He said new technology would be necessary to meet the demands of viewers who want to access content anytime. Fox's regional sports networks and cable network puts Disney in a better position to sell more shows directly to more consumers, he added. Disney has been struggling to bolster its TV business as cancellation of cable subscriptions is pressuring its biggest network, sports channel ESPN. The company plans to launch its own streaming service in 2019, a calculated gamble that it can generate more profit in the long run from its own subscription service rather than renting out movies to services like Netflix. It is not clear who will head the new Fox. Iger said current Fox CEO James Murdoch, Rupert's younger son, will help with the transition and that the two will discuss whether he will have a longer-term role at Disney. Sky's future Through Fox's stake in the Hulu video streaming service, Disney will assume majority control of one of Netflix's main competitors. Hulu is also partially owned by Comcast Corp and Time Warner Inc. A majority of antitrust experts contacted by Reuters said the deal would likely win approval from US antitrust authorities, although the US Department of Justice may require asset sales or conditions, they said. Fox said it remained committed to buying the 61 percent of Sky it does not already own and expects to win regulatory approval from Britain and to close the deal by the end of June, 2018. Britain’s Takeover Panel said Disney had informed the watchdog that should it only buy 39 percent of the company - if Murdoch fails to buy the rest of Sky - it did not think it should be forced to make a full bid for the company. The statement prompted Sky’s stock to fall by 1 percent. In Britain, any investor acquiring 30 percent of a listed company is automatically forced to make a bid for the rest of the stock. The Takeover Panel said it would seek the opinions of Sky’s independent directors before making a decision.

Disney buying Fox film, TV units for $52 billion in digital push

Talks between Walt Disney and 21st Century Fox about selling Fox have resumed on a serious note once again, media reports said.&nbsp;

The talks will be centred around negotiating for Fox film studio, cable channels such as FX and international networks such as Sky and India&#39;s Star, reports also claimed.&nbsp;

Other channels such as Fox News Channel, Fox broadcast network and its sports rights are unlikely to be up for sale as of now.&nbsp;

The decision comes following Fox&#39;s difficulty to capture complete control of Sky for the second time in almost 10 years. The $15.41bn deal had failed due to regulatory issues concerning media plurality in the UK and Fox-controlled Rupert &nbsp;Murdochs&rsquo; promise to broadcasting standards.

This is the second time these talks have taken place with Disney after the two could not come to conclusion due to clashes on issues relating to price, media reports said.&nbsp;

As per media industry analyst Michael Nathanson, the total value of assets which are being negotiated are estimated around $48.5 billion along with the 20th Century Fox film and TV production operation and library estimated higher at around $15 billion, reports said.

Reports also say that apparently, Comcast Corp. and Verizon have also shown interest in purchasing Fox&#39;s assets.&nbsp;

The discussions took place following a dip in TV viewing audience or subscriptions for pay-TV as they gradually shift to online videos. &nbsp;

If the deal between the two media giants is successful, Disney&#39;s already massive content store would gain larger addition from Fox&#39;s assets like Marvel&rsquo;s X-Men and James Cameron&rsquo;s Avatar.

These blockbuster movies, whose upcoming sequels have budgets in the billions, may boost Disney&#39;s planned standalone streaming service, media reports claim.

Talks reportedly focus on film studio, cable channels, and networks such as India?s Star network and Sky in the UK

Talks between Walt Disney and 21st Century Fox about selling Fox have resumed on a serious note once again, media reports said. The talks will be centred around negotiating for Fox film studio, cable channels such as FX and international networks such as Sky and India's Star, reports also claimed. Other channels such as Fox News Channel, Fox broadcast network and its sports rights are unlikely to be up for sale as of now. The decision comes following Fox's difficulty to capture complete control of Sky for the second time in almost 10 years. The $15.41bn deal had failed due to regulatory issues concerning media plurality in the UK and Fox-controlled Rupert Murdochs’ promise to broadcasting standards. This is the second time these talks have taken place with Disney after the two could not come to conclusion due to clashes on issues relating to price, media reports said. As per media industry analyst Michael Nathanson, the total value of assets which are being negotiated are estimated around $48.5 billion along with the 20th Century Fox film and TV production operation and library estimated higher at around $15 billion, reports said. Reports also say that apparently, Comcast Corp. and Verizon have also shown interest in purchasing Fox's assets. The discussions took place following a dip in TV viewing audience or subscriptions for pay-TV as they gradually shift to online videos. If the deal between the two media giants is successful, Disney's already massive content store would gain larger addition from Fox's assets like Marvel’s X-Men and James Cameron’s Avatar. These blockbuster movies, whose upcoming sequels have budgets in the billions, may boost Disney's planned standalone streaming service, media reports claim.

21st Century Fox in talks with Walt Disney to sell Fox: Reports

Disney has decided to shut down the multiplayer online game based on the Marvel franchise so it&#39;s time to bid adieu to Marvel Heroes also known as&nbsp;Marvel Heroes 2016 and Marvel Heroes Omega.&nbsp;

The online game has met an untimely death as both Marvel and Disney has decided to cut ties with the developer&nbsp;Gazillion Entertainment.

In an email to a popular video game website Kotaku, a Marvel representative explained why Marvel Heroes is being closed down.

&ldquo;We regret to inform our Marvel Heroes fans that we have ended our relationship with Gazillion Entertainment and that the Marvel Heroes games will be shut down. We would like to sincerely thank the players who joined the Marvel Heroes community, and will provide any further updates as they become available,&rdquo; they wrote.

It is however unclear as to why Disney and Marvel had to cut ties abruptly.&nbsp;

There is also no information on when the online game would be offline for good and whether it will continue under a new name with a different developer.&nbsp;

Marvel Heroes is a free-to-play&nbsp;massively multiplayer online game (MMO) that rolled out to the PC in 2013 and was ported to the PlayStation 4 and Xbox One in 2017.

It features a wide range of playable Marvel characters. While there are options to choose from the more&nbsp;popular ones such as Iron Man, The Hulk, Wolverine, Spider-Man, Thor, and Captain America there are also some lesser-known characters such as Squirrel Girl, Magik, and Moon Knight.&nbsp;

There is, however, no information on when the online game would be offline for good and whether it will continue under a new name with a different developer

Disney has decided to shut down the multiplayer online game based on the Marvel franchise so it's time to bid adieu to Marvel Heroes also known as Marvel Heroes 2016 and Marvel Heroes Omega. The online game has met an untimely death as both Marvel and Disney has decided to cut ties with the developer Gazillion Entertainment. In an email to a popular video game website Kotaku, a Marvel representative explained why Marvel Heroes is being closed down. “We regret to inform our Marvel Heroes fans that we have ended our relationship with Gazillion Entertainment and that the Marvel Heroes games will be shut down. We would like to sincerely thank the players who joined the Marvel Heroes community, and will provide any further updates as they become available,” they wrote. It is however unclear as to why Disney and Marvel had to cut ties abruptly. There is also no information on when the online game would be offline for good and whether it will continue under a new name with a different developer. Marvel Heroes is a free-to-play massively multiplayer online game (MMO) that rolled out to the PC in 2013 and was ported to the PlayStation 4 and Xbox One in 2017. It features a wide range of playable Marvel characters. While there are options to choose from the more popular ones such as Iron Man, The Hulk, Wolverine, Spider-Man, Thor, and Captain America there are also some lesser-known characters such as Squirrel Girl, Magik, and Moon Knight.

Disney shuts down Marvel Heroes online game

Citigroup listed seven companies as potential takeover targets for Apple, including Netflix, Walt Disney and Tesla, as a way to put its cash hoard of more than $250 billion to work.

With over 90 per cent of its cash sitting overseas, a one-time 10 per cent repatriation tax would give Apple $220 billion for acquisitions or buybacks, Citigroup analyst Jim Suva said in a note to clients.

US&nbsp;President Donald Trump&#39;s tax blueprint, which was unveiled last month, proposes allowing multinationals to bring in overseas profits at a tax rate of 10 per cent versus 35 per cent now. &quot;Since one of the new administration&#39;s top priorities is to allow US companies to repatriate overseas cash at a lower tax rate, Apple may have a more acute need to put this cash to use,&quot; Suva said.

The analyst is rated three out of five stars for his recommendations on Apple, according to Thomson Reuters StarMine. The other potential acquisition targets include video game developers Activision Blizzard, Electronic Arts and Take Two Interactive Software as well as video streaming service Hulu. The analyst said the targets were screened considering five criteria - strategic fit, global scale, transaction size, few non-strategic assets and likely impact on Apple&#39;s share price.

Under pressure from shareholders to hand over more of its cash hoard, Apple recently boosted its capital return program by $50 billion, increased its share buyback program by $35 billion and raised its quarterly dividend by 10.5 per cent.

(Reuters)

A one-time 10 percent repatriation tax would give Apple $220 billion for acquisitions or buybacks

Citigroup listed seven companies as potential takeover targets for Apple, including Netflix, Walt Disney and Tesla, as a way to put its cash hoard of more than $250 billion to work. With over 90 per cent of its cash sitting overseas, a one-time 10 per cent repatriation tax would give Apple $220 billion for acquisitions or buybacks, Citigroup analyst Jim Suva said in a note to clients. US President Donald Trump's tax blueprint, which was unveiled last month, proposes allowing multinationals to bring in overseas profits at a tax rate of 10 per cent versus 35 per cent now. "Since one of the new administration's top priorities is to allow US companies to repatriate overseas cash at a lower tax rate, Apple may have a more acute need to put this cash to use," Suva said. The analyst is rated three out of five stars for his recommendations on Apple, according to Thomson Reuters StarMine. The other potential acquisition targets include video game developers Activision Blizzard, Electronic Arts and Take Two Interactive Software as well as video streaming service Hulu. The analyst said the targets were screened considering five criteria - strategic fit, global scale, transaction size, few non-strategic assets and likely impact on Apple's share price. Under pressure from shareholders to hand over more of its cash hoard, Apple recently boosted its capital return program by $50 billion, increased its share buyback program by $35 billion and raised its quarterly dividend by 10.5 per cent. (Reuters)

Netflix, Tesla listed as potential takeover targets for Apple

Flush with the stunning popularity of the Pokemon GO mobile game, Nintendo&nbsp;aims to make more from marketing popular characters such as Super Mario, taking a leaf from the Walt Disney&nbsp;playbook where Mickey Mouse and friends bring in billions of merchandising dollars each year.

But, where Disney&#39;s animated characters often earn more than the films they star in, Super Mario, Pokemon and other Nintendo franchises have languished amid the Japanese firm&#39;s reluctance to push them beyond its struggling game console platform.

The success of Pokemon GO - created by Nintendo, Pokemon Company and Niantic, a Google&nbsp;spinoff - may signal that Nintendo&#39;s move to let its characters roam beyond that console universe could help revitalise a company that had grown from a card game maker in nineteenth century Kyoto to the world&#39;s top computer game and console maker.

&quot;We are now expanding how we leverage Nintendo IP in various ways beyond our traditional use of them predominantly within the dedicated video game platform business,&quot; Tatsumi Kimishima, the company&#39;s president, wrote in a message to investors.

It could be sitting on a goldmine.

&quot;We believe the value of Nintendo intellectual property is enormous and will eventually be unlocked over a 3-5 year period,&quot; Jefferies analyst Atul Goyal wrote in a Monday research note.

A spokesman for Japanese toymaker Takara Tomy&nbsp;said: &quot;We are seeing a resurgence of interest in Pokemon toys after the launch of Pokemon GO.&quot;

Nintendo, which yesterday partly blamed a strengthening yen for its April-June operating loss, is said to be doing more to expand the reach of its popular franchise characters, which also include The Legend of Zelda.

&quot;Nintendo used to have only few people in its licensing business and deal only with a limited number of merchandising companies,&quot; said a toy company official, who asked not to be named as he is not authorised to talk to the media. &quot;That&#39;s gradually changing as the company has made it clear it will boost its IP business.&quot;

Shigeru Miyamoto, the creator of the puppet-inspired Super Mario, has indicated Nintendo has more appetite now to allow its franchise characters to spread beyond console gaming, and into revenue generating licensing agreements.

&quot;These projects will take time to bear fruit, but they are something to look forward to,&quot; Miyamoto told Nintendo&#39;s shareholder meeting late last month, adding Nintendo had started licensing characters for attractions at Universal Studios theme parks and was working to expand Nintendo products.

Faded Wii

Since its Wii game console boom faded four years ago and its successor, the Wii U, flopped, Nintendo has been buffeted by losses that have more than halved its cash pile to around $5 billion.

Nintendo sold almost 100 million of its Wii consoles between its late-2006 launch and end-2011, the year before the Wii U was released. Subsequent sales of the Wii U have added only 13 million units. As casual gaming has shifted from the living room to the smartphone, sales of its handheld 3DS video game system are just a third of the older DS model.

Wary of losing focus on its ailing console business, Nintendo has largely steered clear from producing games for other platforms or agreeing lucrative licensing agreements.

In the year to end-March, the company&#39;s licensing revenue was just $54.2 million&nbsp;- around 1 per cent of overall sales, and a tiny fraction of what Disney earns from the likes of Mickey Mouse, Toy Story, Winnie the Pooh and, more recently, Star Wars.

Disney&#39;s revenue from consumer products - from Mickey Mouse tea pots and tie clips to books, magazines and even English language schools in China - totalled $4.5 billion in its last full business year - around 9 per cent of its total sales.

It was Disney&#39;s fastest growing business segment in the year to Oct. 3, 2015, with operating profit up 29 per cent from a year earlier. While the Toy Story 3 movie, released in 2010, earned Disney $1.7 billion at cinemas and from TV broadcasts, the franchise&#39;s licensed toys, books and a smartphone app have brought in $7.3 billion.

That&#39;s a merchandising masterclass that some investors reckon Nintendo will struggle to match.

&quot;Monetising IP is a whole different thing from selling games,&quot; said a fund manager at a Japanese asset management firm which owns Nintendo shares.

&quot;They say they&#39;re going to sell a wrist watch, but it&#39;s adults who are playing Pokemon GO&nbsp;and are they going to wear a Pokemon GO Plus watch?&quot; 
 
(Reuters)

Nintendo?aims to make more from marketing popular characters like Mario to revitalise a company struggling with its game console platform

Flush with the stunning popularity of the Pokemon GO mobile game, Nintendo aims to make more from marketing popular characters such as Super Mario, taking a leaf from the Walt Disney playbook where Mickey Mouse and friends bring in billions of merchandising dollars each year. But, where Disney's animated characters often earn more than the films they star in, Super Mario, Pokemon and other Nintendo franchises have languished amid the Japanese firm's reluctance to push them beyond its struggling game console platform. The success of Pokemon GO - created by Nintendo, Pokemon Company and Niantic, a Google spinoff - may signal that Nintendo's move to let its characters roam beyond that console universe could help revitalise a company that had grown from a card game maker in nineteenth century Kyoto to the world's top computer game and console maker. "We are now expanding how we leverage Nintendo IP in various ways beyond our traditional use of them predominantly within the dedicated video game platform business," Tatsumi Kimishima, the company's president, wrote in a message to investors. It could be sitting on a goldmine. "We believe the value of Nintendo intellectual property is enormous and will eventually be unlocked over a 3-5 year period," Jefferies analyst Atul Goyal wrote in a Monday research note. A spokesman for Japanese toymaker Takara Tomy said: "We are seeing a resurgence of interest in Pokemon toys after the launch of Pokemon GO." Nintendo, which yesterday partly blamed a strengthening yen for its April-June operating loss, is said to be doing more to expand the reach of its popular franchise characters, which also include The Legend of Zelda. "Nintendo used to have only few people in its licensing business and deal only with a limited number of merchandising companies," said a toy company official, who asked not to be named as he is not authorised to talk to the media. "That's gradually changing as the company has made it clear it will boost its IP business." Shigeru Miyamoto, the creator of the puppet-inspired Super Mario, has indicated Nintendo has more appetite now to allow its franchise characters to spread beyond console gaming, and into revenue generating licensing agreements. "These projects will take time to bear fruit, but they are something to look forward to," Miyamoto told Nintendo's shareholder meeting late last month, adding Nintendo had started licensing characters for attractions at Universal Studios theme parks and was working to expand Nintendo products. Faded Wii Since its Wii game console boom faded four years ago and its successor, the Wii U, flopped, Nintendo has been buffeted by losses that have more than halved its cash pile to around $5 billion. Nintendo sold almost 100 million of its Wii consoles between its late-2006 launch and end-2011, the year before the Wii U was released. Subsequent sales of the Wii U have added only 13 million units. As casual gaming has shifted from the living room to the smartphone, sales of its handheld 3DS video game system are just a third of the older DS model. Wary of losing focus on its ailing console business, Nintendo has largely steered clear from producing games for other platforms or agreeing lucrative licensing agreements. In the year to end-March, the company's licensing revenue was just $54.2 million - around 1 per cent of overall sales, and a tiny fraction of what Disney earns from the likes of Mickey Mouse, Toy Story, Winnie the Pooh and, more recently, Star Wars. Disney's revenue from consumer products - from Mickey Mouse tea pots and tie clips to books, magazines and even English language schools in China - totalled $4.5 billion in its last full business year - around 9 per cent of its total sales. It was Disney's fastest growing business segment in the year to Oct. 3, 2015, with operating profit up 29 per cent from a year earlier. While the Toy Story 3 movie, released in 2010, earned Disney $1.7 billion at cinemas and from TV broadcasts, the franchise's licensed toys, books and a smartphone app have brought in $7.3 billion. That's a merchandising masterclass that some investors reckon Nintendo will struggle to match. "Monetising IP is a whole different thing from selling games," said a fund manager at a Japanese asset management firm which owns Nintendo shares. "They say they're going to sell a wrist watch, but it's adults who are playing Pokemon GO and are they going to wear a Pokemon GO Plus watch?" (Reuters)

Nintendo's Mario to get a merchandising makeover

Amid fog and lasers on Saturday, Marvel gave frenzied fans at Comic-Con their first look at a new Black Panther movie cast, the mysterious Doctor Strange, a Spider-Man teen movie and an Oscar-winning actress as the new Captain Marvel. 
 
The 6,500-plus audience, many of whom had queued overnight at San Diego&#39;s annual film and pop culture event, were introduced to the lead cast of the &quot;Black Panther&quot; movie, directed by &quot;Creed&quot; filmmaker Ryan Coogler. 
 
Chadwick Boseman plays the titular hero while Michael B Jordan is his arch nemesis, Erik Killmonger, and Oscar-winning actress Lupita Nyong&#39;o plays the warrior Nakia. 
 
&quot;I&#39;m looking forward to kicking some ass,&quot; Nyong&#39;o said. 
 
Walt Disney Co-owned Marvel showcased diverse casts for its upcoming films after facing criticism in recent years for a superhero franchise dominated by white male actors. 
 
Oscar-winning &quot;Room&quot; actress Brie Larson was revealed as &quot;Captain Marvel,&quot; but no details were given on the 2018 movie. 
 
Benedict Cumberbatch entered amid a cloud of fog to show a scene from &quot;Doctor Strange,&quot; out in November, in which neurosurgeon Stephen Strange, who lost the use of his hands in an accident, meets the Ancient One to harness the mysterious world of magic and alternate dimensions. 
 
Director Scott Derrickson said &quot;Doctor Strange&quot; comics brought &quot;a whole new voice&quot; to the Marvel universe. 
 
&quot;It&#39;s very, very different and the scale is something else,&quot; Cumberbatch said. 
 
The casting of Tilda Swinton as a Celtic &quot;Ancient One&quot; caused an uproar among some fans, as the character is of Asian origin in the comics. 
 
&quot;Any of us can be the Ancient One, that&#39;s what&#39;s amazing about what&#39;s in the comics, who knows who will be the Ancient One. It&#39;s a title, and all the things the Ancient One knows and passes on, anyone can do,&quot; Swinton said. 
 
&quot;Spider-Man: Homecoming,&quot; starring Tom Holland, will be a teen comedy, following 15-year-old Peter Parker hiding his superhero alter-ego as he gets through the struggles of homework, girls and puberty. 
 
Finally, the cast of 2017&#39;s &quot;Guardians of the Galaxy 2&quot; entered amid cheers, as new footage revealed Sylvester Stallone in the film, and Kurt Russell playing Star Lord&#39;s father Ego. 
 
Lead actor Chris Pratt said the film will pick up a couple of months after the events of the first film, as the rogue, cheeky heroes face a bigger enemy. 
 
Disney also announced a new &quot;Guardians of the Galaxy: Mission Breakout&quot; ride, opening at California Adventures in the summer of 2017. 
 
(Reuters)

Chadwick Boseman plays the titular hero while Michael B Jordan is his arch nemesis, and Lupita Nyong'o plays the warrior Nakia

Amid fog and lasers on Saturday, Marvel gave frenzied fans at Comic-Con their first look at a new Black Panther movie cast, the mysterious Doctor Strange, a Spider-Man teen movie and an Oscar-winning actress as the new Captain Marvel. The 6,500-plus audience, many of whom had queued overnight at San Diego's annual film and pop culture event, were introduced to the lead cast of the "Black Panther" movie, directed by "Creed" filmmaker Ryan Coogler. Chadwick Boseman plays the titular hero while Michael B Jordan is his arch nemesis, Erik Killmonger, and Oscar-winning actress Lupita Nyong'o plays the warrior Nakia. "I'm looking forward to kicking some ass," Nyong'o said. Walt Disney Co-owned Marvel showcased diverse casts for its upcoming films after facing criticism in recent years for a superhero franchise dominated by white male actors. Oscar-winning "Room" actress Brie Larson was revealed as "Captain Marvel," but no details were given on the 2018 movie. Benedict Cumberbatch entered amid a cloud of fog to show a scene from "Doctor Strange," out in November, in which neurosurgeon Stephen Strange, who lost the use of his hands in an accident, meets the Ancient One to harness the mysterious world of magic and alternate dimensions. Director Scott Derrickson said "Doctor Strange" comics brought "a whole new voice" to the Marvel universe. "It's very, very different and the scale is something else," Cumberbatch said. The casting of Tilda Swinton as a Celtic "Ancient One" caused an uproar among some fans, as the character is of Asian origin in the comics. "Any of us can be the Ancient One, that's what's amazing about what's in the comics, who knows who will be the Ancient One. It's a title, and all the things the Ancient One knows and passes on, anyone can do," Swinton said. "Spider-Man: Homecoming," starring Tom Holland, will be a teen comedy, following 15-year-old Peter Parker hiding his superhero alter-ego as he gets through the struggles of homework, girls and puberty. Finally, the cast of 2017's "Guardians of the Galaxy 2" entered amid cheers, as new footage revealed Sylvester Stallone in the film, and Kurt Russell playing Star Lord's father Ego. Lead actor Chris Pratt said the film will pick up a couple of months after the events of the first film, as the rogue, cheeky heroes face a bigger enemy. Disney also announced a new "Guardians of the Galaxy: Mission Breakout" ride, opening at California Adventures in the summer of 2017. (Reuters)

Marvel unveils Black Panther cast at Comic-con

Steven Spielberg, the American director, producer and screenwriter has rarely shied away from a challenge, from deadly sharks in &quot;Jaws&quot; to resurrecting dinosaurs in &quot;Jurassic Park&quot;. But when it came to creating a giant for &quot;The BFG,&quot; his latest film, the veteran director found the prospect &quot;very daunting&quot;. 
 
&quot;I don&#39;t usually get intimidated by technology,&quot; Spielberg said. 
 
&quot;I usually try and be at the forefront of technology, but this time I was in the wake of it. It took me a couple of weeks to get my sea legs to really realise how I could best utilise the medium of motion capture.&quot; 
 
&quot;The BFG,&quot; a Walt Disney film out in theatres today, tells the story of Sophie, an orphaned girl who encounters the Big Friendly Giant (BFG), played by Oscar-winning British actor Mark Rylance and brought to life using motion-capture animation. 
 
The title character of Walt Disney Co&#39;s &quot;The BFG,&quot; based on British author Roald Dahl&#39;s book of the same name, is no ordinary giant. He doesn&#39;t eat children, unlike his fellow giants, and instead collects and creates dreams to spread through the country under the cover of nighttime. 
 
&quot;Every film of a book brings out a certain essential thing of the book,&quot; Rylance said. &quot;In film you need experience and plot. So it&#39;s very faithful to the book, but it&#39;s a different creature than the book.&quot; 
 
When Sophie, played by newcomer Ruby Barnhill, sees the BFG one night, he takes her back to his home in the land of giants out of fear that she might give away his secret. 
 
The plucky girl quickly becomes a friend and confidante to help the kind, gentle giant from being bullied by his larger, uncultured brethren. 
 
&quot;The BFG&quot; marks the 30th feature film by the 69-year-old Spielberg, who has won three Oscars over a career spanning five decades that includes &quot;Indiana Jones&quot;, &quot;Schindler&#39;s List&quot; and &quot;Saving Private Ryan&quot;. Spielberg will be returning for the fifth installment of &quot;Indiana Jones&quot; with star Harrison Ford, due for release in 2019. 
 
&quot;I get really flattered when people like my films, but I can never see the films the way they can,&quot; he said. &quot;I am never going to enjoy my own output the way other people can.&quot; 
 
(Reuters)

The famous American director said he isn't normally intimidated by technology, but this project was different

Steven Spielberg, the American director, producer and screenwriter has rarely shied away from a challenge, from deadly sharks in "Jaws" to resurrecting dinosaurs in "Jurassic Park". But when it came to creating a giant for "The BFG," his latest film, the veteran director found the prospect "very daunting". "I don't usually get intimidated by technology," Spielberg said. "I usually try and be at the forefront of technology, but this time I was in the wake of it. It took me a couple of weeks to get my sea legs to really realise how I could best utilise the medium of motion capture." "The BFG," a Walt Disney film out in theatres today, tells the story of Sophie, an orphaned girl who encounters the Big Friendly Giant (BFG), played by Oscar-winning British actor Mark Rylance and brought to life using motion-capture animation. The title character of Walt Disney Co's "The BFG," based on British author Roald Dahl's book of the same name, is no ordinary giant. He doesn't eat children, unlike his fellow giants, and instead collects and creates dreams to spread through the country under the cover of nighttime. "Every film of a book brings out a certain essential thing of the book," Rylance said. "In film you need experience and plot. So it's very faithful to the book, but it's a different creature than the book." When Sophie, played by newcomer Ruby Barnhill, sees the BFG one night, he takes her back to his home in the land of giants out of fear that she might give away his secret. The plucky girl quickly becomes a friend and confidante to help the kind, gentle giant from being bullied by his larger, uncultured brethren. "The BFG" marks the 30th feature film by the 69-year-old Spielberg, who has won three Oscars over a career spanning five decades that includes "Indiana Jones", "Schindler's List" and "Saving Private Ryan". Spielberg will be returning for the fifth installment of "Indiana Jones" with star Harrison Ford, due for release in 2019. "I get really flattered when people like my films, but I can never see the films the way they can," he said. "I am never going to enjoy my own output the way other people can." (Reuters)

Steven Spielberg takes on 'daunting' challenge of bringing 'The BFG' to life

Walt Disney Co has taken three Chinese firms to court over concerns local animation The Autobots&nbsp;copied elements from Disney&#39;s own hit movie Cars, as the US firm looks to protect its drive into the world&#39;s second-largest economy. 
 
A court in Shanghai held a hearing on Tuesday, a Disney spokeswoman confirmed to Reuters. The dispute was over &quot;copyright infringement&quot; and &quot;unfair competition&quot;, according to a notice on the Shanghai Pudong New Area People&#39;s Court website. 
 
Disney is making a major push into China with the recent opening of a $5.5 billion theme park in Shanghai, its first on the mainland, while its animated movies including Zootopia&nbsp;and Big Hero 6&nbsp;have been big box office hits in the country. 
 
The iconic US firm, however, faces tough competition in the market from local theme park developers, popular Chinese animations as well as counterfeits from merchandise to fake Disney hotels. Chinese authorities have promised to give Disney &quot;special&quot; trademark protection. 
 
The Autobots&nbsp;drew ire from netizens in China when it was released last year, with some pointing out similarities with Disney&#39;s 2006 film Cars starring Owen Wilson and its sequel in 2011. Cars 3 is pencilled in to be released next year. 
 
Zuo Jianlong, the director of The Autobots for production company Blue MTV, told Reuters in an interview on Wednesday he was &quot;relaxed&quot; about a potential ruling. 
 
&quot;Lots of people online have talked about plagiarism, but it seems from the legal side that the matter is quite clear - at root there is no plagiaristic behaviour,&quot; he said. 
 
&quot;If you put the two films side-by-side to compare them, then you will know they are completely different.&quot; 
 
Disney declined to comment further on the case. 
 
The Chinese film is about animated racing cars including main heroes K1 and K2, while Disney&#39;s offering follows the story of legendary racing car Lightning McQueen. 
 
The three Chinese firms involved in the suit are production company Blue MTV, media company Beijing G-Point, and online content platform PPLive Inc. 
 
An official for Beijing G-Point, who gave her name only as Ms Cheng, said the firms had hoped to reach a settlement, but Disney had been opposed to this. She added G-Point was not involved in production, but rather in the film&#39;s distribution. 
 
Reuters could not immediately reach PPLive for comment. 
 
China&#39;s box office hit around $6.8 billion last year, and is growing fast, a lure for overseas studios to tap into the market despite a cap on imported films, censorship concerns and a rising challenge from locally made movies. 
 
(Reuters)

Chinese authorities have promised Disney 'special' trademark protection as it faces competition from local theme park developers

Walt Disney Co has taken three Chinese firms to court over concerns local animation The Autobots copied elements from Disney's own hit movie Cars, as the US firm looks to protect its drive into the world's second-largest economy. A court in Shanghai held a hearing on Tuesday, a Disney spokeswoman confirmed to Reuters. The dispute was over "copyright infringement" and "unfair competition", according to a notice on the Shanghai Pudong New Area People's Court website. Disney is making a major push into China with the recent opening of a $5.5 billion theme park in Shanghai, its first on the mainland, while its animated movies including Zootopia and Big Hero 6 have been big box office hits in the country. The iconic US firm, however, faces tough competition in the market from local theme park developers, popular Chinese animations as well as counterfeits from merchandise to fake Disney hotels. Chinese authorities have promised to give Disney "special" trademark protection. The Autobots drew ire from netizens in China when it was released last year, with some pointing out similarities with Disney's 2006 film Cars starring Owen Wilson and its sequel in 2011. Cars 3 is pencilled in to be released next year. Zuo Jianlong, the director of The Autobots for production company Blue MTV, told Reuters in an interview on Wednesday he was "relaxed" about a potential ruling. "Lots of people online have talked about plagiarism, but it seems from the legal side that the matter is quite clear - at root there is no plagiaristic behaviour," he said. "If you put the two films side-by-side to compare them, then you will know they are completely different." Disney declined to comment further on the case. The Chinese film is about animated racing cars including main heroes K1 and K2, while Disney's offering follows the story of legendary racing car Lightning McQueen. The three Chinese firms involved in the suit are production company Blue MTV, media company Beijing G-Point, and online content platform PPLive Inc. An official for Beijing G-Point, who gave her name only as Ms Cheng, said the firms had hoped to reach a settlement, but Disney had been opposed to this. She added G-Point was not involved in production, but rather in the film's distribution. Reuters could not immediately reach PPLive for comment. China's box office hit around $6.8 billion last year, and is growing fast, a lure for overseas studios to tap into the market despite a cap on imported films, censorship concerns and a rising challenge from locally made movies. (Reuters)

Cars vs Autobots: Disney sues China firms in copyright dispute

Corporate and individual donors have given more than $5.3 million to help victims of Sunday&#39;s mass shooting at a gay nightclub in Florida by a gunman who killed 49 people and wounded 53, organizers of fundraising drives said on Tuesday. 
 
US&nbsp;investigators were digging into what motivated Omar Mateen, 29, to attack the Pulse dance club in downtown Orlando, including whether he was inspired by militant Islamist ideology, and reports that he may have struggled with his own sexual identity. 
 
Mateen, a US&nbsp;citizen who was born in New York to Afghan parents, was shot dead by police after a three-hour standoff. 
 
The gay rights group Equality Florida set up a page on the fundraising website GoFundMe.com, which had collected $3.6 million from more than 80,000 donors online as of Tuesday afternoon. 
 
&quot;We do not know the total costs for the victims of this horrific hate crime, therefore are working to raise as much as possible and disperse the funds as fast as possible,&quot; Equality Florida said. 
 
The group said it will work with the National Center for Victims of Crime to distribute the funds. 
 
A representative for Equality Florida could not immediately be reached for further comment. 
 
Separately, a campaign led by Orlando Mayor Buddy Dyer has received donations including $1 million from the Walt Disney Co, which hosts millions of visitors a year at its Walt Disney World Resort in the Orlando area, company and city officials said. 
 
Eligible donations from Disney employees will be also matched by a gifts program of the Walt Disney Company Foundation, the company said. 
 
&quot;We are heartbroken by this tragedy and hope our commitment will help those in the community affected by this senseless act,&quot; Bob Chapek, chairman of Walt Disney Parks and Resorts, said in a statement. 
 
Donations to the mayor&#39;s OneOrlandoFund will be distributed through the Central Florida Foundation and will support non-profit organizations that are supporting the victims and their families, the Hispanic community as well as the lesbian, gay, bisexual, transgender and queer community, Dyer said. 
 
Aside from Disney&#39;s contribution, at least $750,000 in other donations have been made to the OneOrlandoFund fund, Dyer added. 
(Reuters)

Gay rights group and Orlando mayor collect individual and corporate donations, including $1 million from Walt Disney Co

Corporate and individual donors have given more than $5.3 million to help victims of Sunday's mass shooting at a gay nightclub in Florida by a gunman who killed 49 people and wounded 53, organizers of fundraising drives said on Tuesday. US investigators were digging into what motivated Omar Mateen, 29, to attack the Pulse dance club in downtown Orlando, including whether he was inspired by militant Islamist ideology, and reports that he may have struggled with his own sexual identity. Mateen, a US citizen who was born in New York to Afghan parents, was shot dead by police after a three-hour standoff. The gay rights group Equality Florida set up a page on the fundraising website GoFundMe.com, which had collected $3.6 million from more than 80,000 donors online as of Tuesday afternoon. "We do not know the total costs for the victims of this horrific hate crime, therefore are working to raise as much as possible and disperse the funds as fast as possible," Equality Florida said. The group said it will work with the National Center for Victims of Crime to distribute the funds. A representative for Equality Florida could not immediately be reached for further comment. Separately, a campaign led by Orlando Mayor Buddy Dyer has received donations including $1 million from the Walt Disney Co, which hosts millions of visitors a year at its Walt Disney World Resort in the Orlando area, company and city officials said. Eligible donations from Disney employees will be also matched by a gifts program of the Walt Disney Company Foundation, the company said. "We are heartbroken by this tragedy and hope our commitment will help those in the community affected by this senseless act," Bob Chapek, chairman of Walt Disney Parks and Resorts, said in a statement. Donations to the mayor's OneOrlandoFund will be distributed through the Central Florida Foundation and will support non-profit organizations that are supporting the victims and their families, the Hispanic community as well as the lesbian, gay, bisexual, transgender and queer community, Dyer said. Aside from Disney's contribution, at least $750,000 in other donations have been made to the OneOrlandoFund fund, Dyer added. (Reuters)

Over $5.3 million raised for Orlando club shooting victims

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